Downsizing is a common option for retiring baby boomers who will be turning 70 this year. Even though most retiring post-war babies are many years from needing any type of nursing care or a retirement village many are starting to consider downsizing to a much smaller, but more glamourous condo. If you are thinking about downsizing to luxury condos when you retire, then you may want to consider a few things. Below are some tips that retiring baby boomers looking to downsize should think about.
Choosing luxury condos when retiring
Luxury Condo Communities
You should take care when choosing your luxury condos as there are a mixture of ages in some of the luxury condo communities, then there are condo communities that are specially meant for empty nester baby boomers. The condo community should be an important for retiring home seekers, because you will want to have easy access to different types of facilities and social activities.
The Value Convenience
As people start to age they begin to realize very quickly the importance of convenience while they acknowledge their vulnerabilities. Retirees often prefer to buy a luxury condo that is on ground level that offers a beautiful view or a condo that is in a building with a reliable elevator.
Nowadays more than ever, retirees or soon to be retired individuals that are fifty-five and over are more concerned about their health and looking for a luxury condo that offers a range of high end amenities, which include a concierge, gym on the property, shops that are on ground level, close parking, and cafés, diners, and restaurants that attract the attention of baby boomers in the thriving condo market.
The Luxury Condo’s Location
People of retiring age looking to purchase a luxury condo should consider the location of the condo before purchasing it. This is a very important decision and experts really stress the importance of always thinking about the location. If you are purchasing a condo that has the best location, then your investment in the condo will rise in years to come, and if the condo offers added perks like a pool, gym, and social spaces, then you know this will cost you more money, so you should consider this as well. You never know when you might need the equity held in your property, so it is always a good idea to consider the convenience of your location.
There are other things that should be considered when you are looking to purchase a luxury condo. Ask yourself the following questions:
- Are there maintenance fees with the condo and if there are, then how are they paid?
- What type of long-term maintenance is provided for the condo complex, and how are these paid?
- Do you provide non-slip surfaces? If you do, then how much of the condo has the non-slip surfaces?
- Does the condo complex accommodate walkers?
- Can all the cupboards and cabinets be accessed with ease?
- What is the lighting like in the condo?
- Is the bathroom design accommodating? Is the shower and bathtub easy to get in and out?
- Is the bathroom large enough to accommodate a wheelchair?
- Are any high end technology features provided with the condo, and are they easy to use? Will there be security, remote control lighting, and automatic curtain features in the condo?
- Does the condo complex have a dining room or any social rooms? If so, can I rent the areas for parties and entertaining?
- I have a pet, can I bring it with me? What rules does the condo complex have regarding pets?
- Is there any way I can see the developer’s past condos? Can I speak to some of the condo residents?
- Good wheelchair access?